Northern Trust Turns It Around

Northern Trust (NTRS) is holding up remarkably well today. After a gap-lower open, the stock remained in the red for the first hour but has been well-bid since then. Shares are up about 1% and headed for their heaviest upside day since January. This buoyant action has kept the stock within the confines of a bullish pennant that has been in place for over a month. The formation indicates a healthy layer of support is in place near the $56.50 area.

Northern Trust (NTRS) Source: TradeStation View Chart » View in New Window »

With today's gain, NTRS is trading within a dollar of fresh 52-week highs. This key level, just below $59.50, also marks the stock's 2010 peak. A clear break through this area will have plenty of upside potential. The stock has managed to work off much of its late May overbought condition, setting it up well for a solid run....51 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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